Opportunity Analysis for Generics: Everything You Need To Know

Patents are essential for inventors to protect their inventions, and they are also necessary for rivals to innovate and expand their products after their IP rights have expired. 

We have extensive experience studying intellectual property rights that are about to expire. We recognize that the expiring patent plays a critical role in the industry once the technology enters the public domain. For our customers, knowing that a patent is about to expire opens a world of possibilities. It will enable a business strategy to use the protected invention to introduce new products to the market. It may also be helpful if the client's patent is about to expire. 

The invention becomes part of the public domain after a patent has been in effect for 20 years for utility patents and 14 years for design and plant patents. It means that the invention is no longer protected by a patent and is no longer limited, allowing anyone to make, use, or sell it without fear of infringement. We perform a set of steps to find out the expiring patent that can be helpful to the client.

 

1. Identification of patents using databases: In this step, the experts run a free search to find out the relevant patents for opportunity analysis of generics. Free and paid databases are used for the identification of patents. The patent search databases are Derwent Innovation, Patentscope, EPO, Drug bank, Chembank, Questel Orbit.
2. Preparing key string: Our patent analyst carries out a key string search defined as querying a patent database using keywords to shape key strains. A key string consists of words related to the generic patents; synonyms related to the required patent.
3. Refine search by Patent expiry Date: Our expert team refines the search using advance search, uses a date range provided by the client, and begins the search. This step filters out the patent according to its date of expiry.
4. Manual analysis for screening patents: Our team conducts a manual analysis of the selected patent and is filtered out after advance search. 
5. Verification of legal status: The team verifies the patents' legal status and filters out the expired, dead, or revoked patents. The legal status is checked using the orbit database, and further, the patents are filtered according to the status.
6. Identification of commercial products: This is an optional step to identify the commercial products in generic that patents are near to expire. Details of such patents are extracted and filtered according to the client's needs.
7. Listing all the commercialized products: We list out all the commercialized products that are appropriate according to the client's needs.
8. Report generation: After filtering all the relevant patents according to the client's need, an excel report is generated containing all insights of a patent, including patent number, assignee, publication date, expiry date, the domain of inventions, and claims.

We offer generics opportunity research services to various pharmaceutical, biotechnology, cosmetics, and skincare companies. Our team closely examines patents that are about to expire to identify opportunities for our clients. Contact us now.